Antares Retains Brisco Capital to Provide Investor Relation Services
04 Settembre 2009 - 3:00PM
Marketwired Canada
Antares Minerals Inc. (TSX VENTURE:ANM) ("Antares") is pleased to announce that
it has retained the services of Brisco Capital Partners Corp. ("Brisco") to
provide investor relations services, subject to regulatory approval. Brisco will
initiate and maintain contact with the investment community for the purpose of
increasing awareness of Antares and its activities. Brisco takes a full service
approach to investor relations and provides creative, effective results-driven
investor relations programs for Canadian public companies.
John Black, President and CEO of Antares Minerals Inc. commented as follows:
"We believe that our Haquira project represents one of the top copper
discoveries in South America over the past few years. We are currently in the
midst of a drill program to test for satellite deposits that could significantly
increase the sizeable deposits that have already been outlined. Subsequent work
will focus on advancing the project towards a fully integrated Preliminary
Economic Analysis to understand better the full potential value of the project.
We look forward to working actively with Brisco to communicate our story to the
investment community so that the inherent value of Antares might be more fully
appreciated".
Scott Koyich, President of Brisco Capital Partners Corp., commented as follows:
"We at Brisco are very bullish on the commodity cycle going forward. Antares is
an undervalued copper company with a strong management team and with significant
potential to grow from an impressive base. They are well-funded and are nearing
the point in the exploration cycle where they will be an attractive target for
acquisition. We are delighted to have the opportunity to bring this story to the
attention of the investment community."
The term of the agreement between Antares and Brisco is for a 12-month period.
Brisco will receive a monthly fee of $6,000 and will be granted 100,000 stock
options with an exercise price of $1.35. The stock options will vest equally and
quarterly over the first 12 months after issuance. The stock options expire at
the earlier of 30 days after termination of the agreement, or two years from the
date of issuance.
Haquira Project Highlights
- Very large porphyry Cu-Mo-Au discovery (see 43-101 resource table below) that
presents an opportunity for both an SX-EW leach operation and a large primary
sulphide mine with conventional flotation/concentration.
- Cu-Mo-Au mineralization recognized to date occurs in two zones; the Haquira
East (HE) and Haquira West (HW) zones. Currently defined, 43-101 compliant
resources for the project are listed below in Table 1. Mineralization remains
open in several directions and the current drilling campaign will focus on
testing the significant upside exploration potential for additional zones of
mineralization.
----------------------------------------------------------------------------
Table 1. Mineral Resource Summary Haquira Project - 0.3% Cu cut-off
----------------------------------------------------------------------------
Haquira East Primary Sulphide Mineral Resources (Tetra Tech Nov 2008)
- 0.3% Cu cut-off
----------------------------------------------------------------------------
Resource
Classi- Tonnes Cu Eq(i) Cu Mo Au Ag lbs Cu lbs Cu Eq(i)
fication (millions) % % % g/t g/t (billions) (billions)
----------------------------------------------------------------------------
Indicated 147.9 0.71 0.57 0.015 0.054 1.63 1.86 2.31
----------------------------------------------------------------------------
Inferred 304.6 0.64 0.53 0.012 0.047 1.42 3.54 4.31
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Haquira East and West Secondary Cu Mineral Resources (CAM Oct 2007)
- 0.3% Cu cut-off
----------------------------------------------------------------------------
Resource
Classi- Tonnes Cu Eq(i) Cu lbs Cu lbs Cu Eq(i)
fication (millions) % % (billions) (billions)
----------------------------------------------------------------------------
Indicated 133.7 0.53 0.53 1.55 1.55
----------------------------------------------------------------------------
Inferred 43.6 0.44 0.44 0.43 0.43
----------------------------------------------------------------------------
(i) CuEQ equals Copper Equivalent is calculated for intervals dominated by
primary mineralization using US$1.50/lb Cu, US$500/oz Au, US$10/oz Ag and
US$10.00/lb Mo and is not adjusted for metallurgical recoveries as these remain
uncertain. Metallurgical recoveries and net smelter returns are assumed to be
100%. The formula used is as follows: CuEQ equals Cu% + (Au g/t x 0.4862) + (Mo%
x 10.00/1.50) + (Ag g/t x 0.0077). Copper Equivalent contributions are only
applied to primary sulphide mineralization.
- The 43-101 compliant resources contain a total of 8.0 billion lbs Cu or 9.2
billion lbs Cu EQ utilizing a cut-off grade of 0.2% Cu for leachable resources
and 0.3% Cu for primary sulphide resources.
- The current resource estimates utilize only the drilling up to drill hole
AHAD-120. Additional drill holes that have been released after the completion of
the current resources estimations include drill hole AHAD-159 which intersected
937 m of 1.14% Cu, 0.034% Mo and 0.1 g/t Au - the best hole completed and
Haquira to date (February 11. 2009).
- Antares announced a Preliminary Economic Assessment (PEA) for the near-surface
SX-EW amenable portion of the Haquira project (see press release dated May 14,
2008). This study estimated that the known tonnage and grades of leachable
copper mineralization are sufficient to support a 50,000 t/d SX-EW heap-leach
operation that would produce an average of 109 million lbs of copper cathode for
11 years of mine life. The capital cost to construct the operation is estimated
at US$301 million with a projected after tax IRR of 26.9% and an NPV (8%
discount rate) of US$224 million utilizing a copper price of US$2.00. This PEA
does not take into consideration any of the underlying primary sulphide
mineralization.
- Antares can obtain a 100% interest in the principal Haquira portion of the
project with one final payment of US$5 million to Minera Phelps Dodge del Peru
by March 4th, 2010 (the Cristo de los Andes project is not subject to this
agreement). Funds to make the payment have been reserved for this purpose.
- The Haquira project is located immediately adjacent to XSTRATA's Las Bambas
project with ample opportunity for shared infrastructure.
- Antares has recently entered into a strategic relationship with the IFC, the
member of the World Bank Group focused on private sector investments in
developing countries (see press release dated May 13th, 2009).
- Antares is financially sound with current cash on hand of $16.5 million and no
debt.
About the Haquira Copper Project, Peru
The Haquira project offers potential for a low-strip, low-cost SX-EW copper
operation in southern Peru as well as a good opportunity for an underlying
higher grade primary porphyry copper-molybdenum mill/concentrator operation. The
project is located contiguous to, and immediately south of, Xstrata Copper's Las
Bambas Cu-Au project and consists of two blocks of property optioned under
separate agreements as well as additional concessions acquired by Antares for a
total of 20,635 hectares of area. Antares has an option agreement with Minera
Phelps Dodge del Peru S.A.C. to acquire a 100% interest in the original Haquira
project by completing optional payments totalling US$15 million over a five-year
period (see Antares press release dated March 17, 2005). A total of US$10
million has been paid to date with the remaining US$5.0 million due on or before
March 4, 2010. Antares also has an option agreement with Minera del Suroeste
S.A.C. (MISOSA), a wholly owned subsidiary of Hochschiild Mining PLC, whereby
Antares can acquire up to a 60% interest in the Cristo de los Andes project,
located contiguous to, and immediately south of the Haquira project (April 28,
2008). Antares can acquire an initial 51% interest in the Cristo de los Andes
project by completing 12,000 m of drilling, making US$1,050,000 in payments and
granting MISOSA a production royalty of US$0.005/lb of Antares' share of copper
production exceeding 500,000,000 lbs from the Cristo de los Andes Property.
Antares also has the option to acquire an additional 9% interest in the project
for a total of 60% by electing to complete a bankable feasibility study within
five years.
About Antares
Antares is a successful mineral exploration company with highly experienced
technical and management teams. The Company is focused on precious- and
base-metal exploration properties in Latin America that can be quickly and
cost-effectively advanced to the discovery and production stage. In addition to
the Haquira Project in Peru, Antares is also currently exploring the Rio Grande
(Cu-Au porphyry) project in Salta Province of NW Argentina in a 50/50
option/joint-venture basis with Pachamama Resources Ltd., a spin-off from
Mansfield Minerals Inc.
For further information: please visit our website at www.antaresminerals.com.
All of Antares' exploration programs and pertinent disclosure of a technical or
scientific nature are prepared by, or prepared under the direct supervision of
John Black, Antares' President, who serves as the qualified person (QP) under
the definitions of National Instrument 43-101.
Antares' security, chain of custody and quality control is described on their
website and can be reviewed at:
http://www.antaresminerals.com/bestpractices/samplingmethodologies
Mineral resources do not have demonstrated economic viability and future in-fill
drilling and scoping, pre-feasibility and feasibility studies will determine
what percentage of the inferred resource can be placed into the mineable
category. Antares is not aware of any environmental, permitting, legal, title,
taxation, socio-political, marketing or other issue which may materially affect
this estimate of mineral resources.
Certain disclosure in this release, including management's assessment of
Antares' plans and projects, constitutes forward-looking statements that are
subject to numerous risks, uncertainties and other factors relating to Antares'
operation as a mineral exploration company that may cause future results to
differ materially from those expressed or implied. Readers are cautioned not to
place undue reliance on forward-looking statements.
Grafico Azioni Antares Minerals (TSXV:ANM)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Antares Minerals (TSXV:ANM)
Storico
Da Giu 2023 a Giu 2024
